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“Grain industry Hopeful for FTA in September”

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August 9, 2011

Southeast Farm Press

The U.S. Grains Council

For U.S. corn farmers, failure to approve the Colombia agreement has been especially costly. Colombia was the sixth-largest U.S. corn market and was growing until 2009, when Colombia’s trade agreement with South America’s Mercosur nations reduced tariffs on Argentina and Brazil to 6.9 percent, a level that will continue to decline until it reaches zero in 2018. Failure to pass the Colombia FTA leaves U.S. corn with a 15 percent tariff, and U.S. exports have declined each year since.